Lumax Auto to Fully Acquire IAC India

Lumax Auto, a company making car parts, is buying the rest of IAC India.

IAC India makes plastic parts for car interiors, like the dashboard and door panels.

They are the only ones making these parts for Mahindra's new electric cars.

Lumax already owned most of IAC India and now wants to own all of it to improve efficiency.

The deal should be done by May 2025.

This move is meant to help Lumax grow, especially in the electric car market, and to make their operations run more smoothly.

IAC India has factories in several locations and also has an engineering center for product design.

The IAC Group will continue providing technical support after the acquisition.